20 Jun 2018 Anthony Lehrman
Gate.io Officially Lists GSENetwork
The secure and user-friendly exchange now enables its users to meet the GSENetwork, which will help the decentralized network create a large community and its long-term goal of expansion to other economies in their bid to create a fully functioning ecosystem.
For the launch of the GSE, it will be featured on the Ethereum network as an ERC-20 token. With the development and release of the GSENetwork's MainNet, the tokens will be migrated to their own ecosystem.
The team behind the project decided to proceed this way so that users can participate actively in the establishment of the network.
The network aims to act as a trust bridge between the crypto world and the real world, by quantifying each user’s digital footprint and behavior into a Trust Score that users can influence.
Within itself, the GSENetwork is built on robust smart contracts, IoT, blockchain-based system to qualify and quantify trust of each individual.
IoT has a special role in empowering the system that records the peer-to-peer interaction with physical assets onto the blockchain.
The pilot programme will allow users to transact with physical assets on the network and share their digital information with the GSENetwork. They will be incentivized by “Green-Mining” - innovative token distribution method which enables users to ears GSE tokes by utilizing assets in the shared economy.
GSENetwork has managed to attract a number of partners on its side, including ofo - the first and largest bike-sharing platform in the world. Last March, In Singapore, the Green-Mining token distribution was integrated onto the ofo platform with the “Ride & Earn” programme to attract ofo users with GSE tokens after each of their completed rides.
The partnership proved to be an excellent success, as since its launch, over 12.3 million GSE tokens have been distributed to more than 400,000 ofo users. In total, all of them have biked a collective distance of 3.8 million kilometers.
Looking further into the structure of the network, alongside its highly-customizable smart contracts, it is sustained by two-asset tokenomics - GSE and Gsero.
GSE is focused on Green-Mining and community participation to build the trust network. The token holders will be rewarded with interest pain in Gsero - the token that allows the bridge transactions between the digital world and the real world, for example, payments for bike-sharing.
Users can get Gsero tokens by selling their GSE on Gate.io or by mortgaging GSE to a Smart Stabilization Center - a decentralized programmed virtual pattern. The SSC regulates the activity of the two-asset token through automatic adjustments of policy instruments obtained from pre-determined rules.